he of a stereo. is basically wrong when there's a lack of private sector demand when banks aren't lending when businesses don't want to borrow when people are cutting down their spending because they want to reduce their debt when the government then adds to that sort of downward pressure on spending then it's no surprise that the economy isn't growing is does that come from an inherent misunderstanding of how economies actually work on the government's part so i do think it comes from a misunderstanding of how economies work you see i think the coalition came into office with a belief which was often expressed by george osborne that as soon as asperity was seen to be working as soon as the government committed itself to a credible plan of deficit reduction everything else would perk up there'd be so much confidence that the economy would start growing again but that was wrong

because it's real factors not just psychological factors psychological factors are very important but it's the real factors the real market that is available to businessmen that cause them to want to increase. their business and the government was shrinking the market by its policy so it could talk up the economy all it wanted but the policies were pointing in a different direction austerity we now know hits the poor significantly harder than it's the rates presumably that means that during this recess and the gap between the rich and the poor will widen even further yeah that's that's already happening a real real incomes have been going down because prices have been going up a bit and of course welfare benefits are being slashed. a lot of a lot there are lots of cuts in the public services and the rich are better able.

to insulate themselves against some of these effects for example house prices in london haven't gone at all especially in the wealthy areas and in fact they may be going up a bit so the world of the wealthy has been well maintained but people who have relied on incomes from wages have been hit and of course there has been since the beginning of the. recession a very big rise in unemployment even more significant perhaps a very big rise in part time employment is happening jay graphically as well where rich regions get richer and poorer regions get poorer do you see a strategy by the governments in which areas that do economically well will apparently be rewarded while areas that do economically badly will be left to kind of fester and degenerate what's the economic justification for that well i think the government wants to back winners. and. and it believes that winners

come about through self. through through act the private private initiative sensually and so it wants to back back for strong and hope that that will encourage the weak but of course this gap between the regions has been longstanding and recently most of the world that's been generated in the last ten twenty years has been in southern england and so that gap between the north and the south which had been actually getting less in the mid medias of the century last century started to grow again and economists seem to almost universally to reject austerity and embrace advocate borrowing and spending instead why isn't the government doing well i don't think you're right i don't think the majority of economists do i mean the majority of economists say that the government is right to

in its in its budget budget deficit in its deficit reduction programs but it needs to do something else but what they didn't explain is how doing something else can be made consistent with a reduction in government borrowing. you know government produces borrowing and they say must reduce its borrowing then it's hard to know how it's going to do something else because unless the knesset raises taxes for example that may be an alternative but very few people are advocating that taxes should go up so they're in this sort of halfway position a more or less there's no alternative to a stereotype but a stair it isn't a growth policy therefore the government should do something else but when it when you actually asked them what should it do they get all vague. i think they should cancel a lot of the. sterrett it policy i think they should cancel the cuts in capital

spending particularly and because of that that those schemes were ready to run when the kurdish and took office and they have been put into cold storage they could be this is buildings building schools building building houses hospitals all these projects that were cancelled because the government was cutting down its spending i think should be uncancel that i think they should be revived so you saying you've got to speculate to accumulate in a way not speculate spend you've got to spend because you see at the moment they're not meeting their deficit reduction targets they're not reducing the national debt in fact it's going up the whole time. and it and it's going up because the economy is going down the economy is what provides the government with its income and if the economy is shrinking the income of the government shrinks of the same type and therefore the deficit rises and something like that has been going on so the policy

can't even succeed in its own terms one of your colleagues an economist called james keane has suggested a scheme that he calls quantities if easing for the public saying that the debt that private individuals have needs to be reduced under the scheme he says that cash would be issued to individuals and those with debt would have to use it to pay that debt down and those without it would have a cash injection and it sounds like a great school wouldn't you think it would work well i've suggested this as well in an article in the new statesman last week yeah that's fine i mean if you put money in that into the hands of the people. and make sure they as you say spend it in one way or another. then i think that gives a boost to the economy because they could even increase spending and therefore set up a demand for shoes and clothes and. food and all the things that people spend money on and so that'll be good for business that's i think that's

a good idea i actually suggested that the government give every household one hundred christmas present time limited so they need to do something with it can't just put it under the bed would that kind of policy be popular people were constantly hearing that there is no money now i think it would be popular i think everyone enjoys getting christmas presents. and people really expect them from the government we've seen a europe wide backlash against austerity what do you think prime minister david cameron's chances are being reelected if you continue if this territory continues if there's no change of policy if the measures that are now being proposed small or is ineffective as one thinks they may be then i think his chances of winning the next election a very very small. because i think that there won't be a recovery his best chance of winning an election in two years' time is if there

are proper green shoots of recovery and people can see them and they feel they're feeling better about the economy they're feeling better about their prospects they're feeling better go about getting jobs and feeling better about getting more income then i think he'll benefit from that and they're have a good chance of winning but i don't think anything like that is going to happen under present policy so i think their chances of losing must be very high it's a keynesian idea that capitalism is a way towards working less and having enough is the current economic crisis is a result of that so it's time that we thought of the rails well that was a very long run i mean that was a long run idea that keynes had that in the end a successful capitalism should enable people to work less. and and enjoy life more and he thought hours of work over time would shrink as we got richer but that assume that we wouldn't fall into these holes that you know that

progress would be steady and you wouldn't have any more slumps but we're in we're in a slump we had the big collapse and at this point the priority is to get as many people back to work as possible and get as much production as you can because that. full speed things along speed the road to utopia. so i think you mustn't confuse the short what needs to be done in the short run and long run prosper one of the things that the railed against this theory is this consumerism that we've all fallen under the spell of where we have to work more to buy more to have more are you worried that more crises will follow because of the way we work and because of what we're working for it's a very good question i think we are consumption mad society and in order to go on consuming we have to go on earning money by working and working harder than most

people want to and getting into debt and then the whole machine is driven by advertising and that does create a problem it means that as technology reduces the number of jobs and yet we all under this impulsion to consume more and what how do we see things developing what should happen is that on the whole we should give up growth as the top priority. and make sure we have enough work sharing so that people can get work but not most people working forty or forty five or fifty hours a week and then another fifteen or twenty percent not working at all or only working very part time we need to sort of distribute work better among among among people who want to work and also make sure there's more leisure so people can

pursue you know pursue things their own say do things that interests them. and that's the way forward otherwise we're all sort of treadmill and i think. you're right they'll be more and more crises as a result of it no dramas condell ski thank you. in this remote siberian village people still sing the songs which russians sang in the middle ages and they cherish the ancient rituals practiced by the will set up church before the seventeenth century the old believers he resigned the area are a conservative community they're known as the simi skeer a word which refers to family meeting. the debate over belief in

a fair yet i feel right. now i'm the first to tell you that. people here are happy to show their way of life to tourists and to see them how to dance in the local star. use of prayer and the girl needs to watch her legs don't go up too much during the dance she must be a modest. seventeen year old nanda is from the same village she now studies in the city and dances at a club. she puts on her costume and the traditional amber necklace only when she comes to visit her grandmother. yesterday i think.

i did ask on time for her dad says because i want to keep up to date with this morning world but still i would like to have came to my bank around how my sources lawyers and the. it is my treasure their attachment to the church brought this his to this remote glen and east of late by call more than two hundred fifty years ago they were exiled in pesach you tit for not agreeing to the orthodox who forms introduced in russia in the sixteen hundreds they wanted to maintain their time honored rituals they'll believe are still baal and cross themselves with two fingers not with three as they do in modern orthodox churches in russia and never knew when praying but his father said he says it's not so much the rituals they cherish as the moral principles he does not approve of what knowledge is doing as a critic but old believe a woman must never show her naked legs and this thing started spoiled during the soviet union. was more and more young people leaving for big cities this year is

the old believers culture could be imperiled nowadays and people prefer urban life to devoting their lives to agriculture but it's not necessary to leave it inside israel has to remember that and try to think that well you know the a plans to continue her studies abroad to grandmother says wherever she goes as long as the jews are fresh in her memory so is the culture ok. well with the. audience technology innovation and all the developments around russia we've got the future covered.

the latest news of the week's top stories on the border shelling between syria and turkey as fresh violence hits damascus the compound exploding all signs the police headquarters. italians period will mounting to descend into classrooms while civil servants are marching for the jobs in spain. and venezuela votes for a new president joel maybe it's a previous one longstanding socialist leader chavez faces a tough challenge from a democrat. say it's all the latest sports news with poll.

well i welcome along with two the sports headlines here is what's coming up. hitting sanjay remain on top of the russian premier league table with the two you know when that. moving on up reigning world champion sebastian vettel wins the japanese romper a move within a few points of championship leader number one. on the china crisis world number one victoria azarenka big smile reassure half of it in the china open final in straight sets to play the fifth title of the season. the first football and i'm jay remain on top of the russian the premier league following a two no win. because sitting side how to do it the hard way that i play we're down to ten men. shall call off sent off after ninety minutes for this power match of

the boks second half goals from eurasia cofa and samuel eto secured when the baddest outfit now on the ten and twelve noon competition. meanwhile one of the biggest games in the calendar when the way access cars they think city rival spots out. to stay within two points of the league is in second place open the score in the fifteenth minute after being set up like a soup can honda the japanese international then turns and doubles as cars in a fifty two minutes in sealing the two nil victory the seventh win a night we were happy about to come out today's game specially because it is the biggest day really in russia winning this game is always very important for us. as a team and for supporters to so hopefully we can keep doing a good job in and trying to to fight the first places. elsewhere and exam former champions. you know last time call one colleague not to be school the game's going

to go in just the for a minute with the winning prom side up tonight in current standings. elsewhere in russia today the defending champions in a run out through no winners are present all thanks to girls from constantine's that we are not very far as our. over in england manchester united won three zero at newcastle feisty old from patrick cedric jonny evans and tom cleverley tottenham secured their fourth league win in a row beating aston villa to strike from steven caulker and aaron lennon full of the point at southampton following a dramatic two mature draw europol and study. i mean field. to formula one now reigning champion sebastian vettel has moved to within just four points to fernando alonso in the overall standings after victory in the japanese grand prix the german starting position and his red bull was dominant throughout the coming home twenty seconds ahead a few hours philippe massa kirby ashley of south. part and lewis

hamilton battles teammate mark webber. after he lost control of his the start of the race however things were much worse be overly different on the loans i had to retire after this crash on the first lot. of this is how the overall standings look now the reigning champion vettel is within striking distance of a long as i was the. driver's title in a row he has not let the standings sorry for this season but is now just four points behind the spaniard with five races left. now to tennis and maria sharapova has been beaten in the final of the china openly russian was outclassed by world number one victoria azarenka going down in straight sets it was a poor start for sure as a run to stormed into full of li in the first set to eventually take six three russian title dominant dominant in the second issue just one game easing to half to win of two thousand and. well. men's competition well the to know about djokovic

was victorious in how to fight hard to take the first set against frenchman tsonga on a tie break. found the girl in much easier in the second taking a six two to claim his fourth title of this is a. very special and. i haven't lost many matches i'm busy actually lose a match since i've been coming in beijing. only wanted the olympics and three titles. i love this tournament a logical mission here. to rugby where new zealand have finished the inaugural rugby championship with six wins from six matches starts after they concluded their campaign with a thirty two sixteen win over south africa having wrapped up the tie for the game to spare blacks were looking to complete the series with a one hundred percent record but they actually fell behind in. place of brian scoring for a try after thirty minutes as the host and. halftime dressing down from touch the

fans and change the complection of the match as the visitors went through the gays in the second period securing the sixteenth in a row now just one victory away from sesame record among players nation. now boxing great mike tyson has defended the current heavyweight division and in particular the klitschko brothers the ukrainian jew have dominated the category for the best part of a decade but often criticised for their unspectacular style with some labeling the pair boring i think it's good it's probably not victorian we people used to you throughout free me used to draw it's almost like a soap opera you know we were fighting but it's very very serene because the champions are that way because it's good to refight you can't get away from it you can't blame be everybody in the division. now if the ice were in the kontinental hockey league spot moscow thrashed the nominee for one on home ice your mikhailov

open for the muscovites in the opening period the game is effectively done and dusted in the second where the high started three more goals the third period was merely a formality as the main side pulled one consolation before one was the final school . and the other game sell about needed a shootout to be done for free spartak moscow had no problems against unarmed men scares the red and white in victory for one is saying sevastopol was one of the winners are now more rigorous ukrainian side on the x. lost a high incidence is well in the late game of the day than the moscow peace love and three experience with the hockey. so it has been three weeks since the n.h.l. lockout was announced since then the continental hockey league has gone from strength to strength with the world's brightest stars moving across the ocean on here are some of the most spectacular moments of the k h l has produced in the last ten days.

live. live. live live. live

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that is all from the world of sports so now there's plenty more like to hear when i'll take. is that so much. more. the strategy of the u.s. led. coalition. my parents really truly honestly believe that what had happened was as a result of my father's exposure to agent orange i was born with multiple problems . i was missing my leg and my fingers and my big toe on my right foot i use my hands a lot in my artwork i find myself drawing my hands quite a bit to me for my hands you know just as if anyone would. but

they do tell a story they tell a story of. oxen. wealthy british style. that's not on the. market why not scandals find out what's really happening to the global economy with mike's cause or for

a no holds barred look at the global financial headlines tune into cars a report on. the news sigrid laboratory to mccurry was able to build a new most sophisticated robot which all unfortunately doesn't give a dollar amount anything turns mission to teach music creation why it should care about humans and we're going to see this is why you should care only on the dog. admission free accreditation free transport charges free. range mimms free risk free studio type free. download free broadcast plug in video for your media projects free media dog r.t. dot com. download the official location to self choose your language stream quality and

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